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Worried Musk / "I'm Losing Billions of Dollars"

2022-06-24 08:52:00, Tech CNA

Worried Musk / "I'm Losing Billions of Dollars"

Tesla CEO Elon Musk said his new car factories are 'losing billions of dollars' due to supply chain problems and lack of batteries.

" This factory is losing 'crazy' money," he explained. " We need to operate more cars from this plant versus a very small number of cars."

Musk said the Tesla plant in Texas produces a 'small' number of cars because of the challenges in increasing production of its new '4680' batteries and as the means to make its conventional 2170 batteries have stalled in port at China '.

Musk, who also founded SpaceX, said his plant in Berlin is in a 'slightly better position' because it started using traditional 2170 batteries for cars built there.

He said the COVID-19-related closures in Shanghai " were very, very difficult". The closure affected car production not only at Tesla's Shanghai plant, but also at its plant in California, which uses some Chinese-made vehicle parts, he said./ CNA.al





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